According to the report, which examined the economic impact of seven counties across the area, the RNC led to $188.4 million in economic benefit.

Author:
Stephanie Metzger and Ryan Haidet , WKYC

Published:
12:49 PM EDT August 3, 2017

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It's been more than a year since the Republican National Convention made its mark in Cleveland, leaving residents and businesses wondering how the city fared economically during the convention.

On Thursday, the Cleveland 2016 Host Committee released the numbers.

According to the report which examined the economic impact of seven counties (Cuyahoga, Lake, Geauga, Lorain, Summit, Medina and Erie) across the area, the RNC led to $188.4 million in economic benefit, according to Tourism Economics.

But the host committee had estimated $200 million in direct spending for the 2016 RNC, based on numbers from the 2012 convention in Tampa. Instead, Cleveland's RNC produced $110.1 million in direct spending, a 44.95 percent difference.

The report combined studies of differing methodologies conducted by Tourism Economics and Cleveland State University's Maxine Goodman Levin College of Urban Affairs.

Tourism Economics relied on macro analysis and found that hotels more than doubled their average daily rates and averaged an 88 percent peak occupancy rate across the seven counties. Hotels downtown saw a 99 percent peak occupancy rate. Airbnb bookings increased by more than 300 percent during the week of the convention. Downtown residents who rented their apartments and homes made more than $500,000 that week.

Tourism Economics also found that the RNC led to 1,324 FTE positions, which generated $61.1 million in income. Spending during the RNC led to $10.2 million in state and local tax revenue for the seven counties.

Cleveland State University used a micro approach to analyze downtown hotels and visitors by issuing 296 questionnaires in the Public Square area during the convention.

According to the CSU study, survey participants said words they would have used to describe Cleveland prior to their visit included "rust belt", "dull", "boring" and "dangerous." After experiencing the city, those participants said they'd use words like "friendly", "nice", "safe" and "clean."

Cleveland State estimated the RNC produced $67.8 million in direct spending for a total economic impact of $142.2 million. Researchers noted that, because they used survey-based feedback, "it is likely that not all visitor spending was modeled."

The Host Committee also estimated 50,000 visitors, including the 15,000 credentialed media the week of the convention. According to the report, about 48,000 showed up.

WKYC will sit down with Host Committee President David Gilbert around 10:40 a.m. Thursday to further discuss the economic impact report. It will be streamed live here and on Facebook.

Look back:

PHOTOS | RNC Day Four

CLEVELAND, OH - JULY 21: A group demonstrating against Republican presidential candidate Donald Trump march near the site of the Republican National Convention (RNC) on the last day of the convention on July 21, 2016 in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: A group demonstrating against Republican presidential candidate Donald Trump march near the site of the Republican National Convention (RNC) on the last day of the convention on July 21, 2016 in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: A delegate holds a sign that reads "Latino's For Trump" prior to the start of the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

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CLEVELAND, OH - July 21: A delegate waits for the start of the last day of the Republican National Convention while in Cleveland, Ohio, on July 21, 2016.

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CLEVELAND, OH - JULY 21: Protesters march in a rally against Republican presidential nominee Donald Trump on the final day of the Republican National Convention on July 21, 2016, in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: A Cleveland police officer speaks with a protester on Cleveland Public Square on the final day of the Republican National Convention on July 21, 2016, in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: Protesters march in a rally against Republican presidential nominee Donald Trump on the final day of the Republican National Convention on July 21, 2016, in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: A woman in an American flag-themed outfit protests Republican presidential nominee Donald Trump on Cleveland Public Square on the final day of the Republican National Convention on July 21, 2016, in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: GOP candidate Donald Trump and his daughter Ivanka Trump test the teleprompters and microphones on stage before the start of the fourth day of the RNC. Ivanka will introduce her father before he gives his acceptance speech.

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CLEVELAND, OH - JULY 21: Delegates cheers during the evening session of the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: Delegates dance during the evening session of the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: Singer Heavenly Joy sings during at the Republican National Convention at the Quicken Loans Arena in Cleveland, Ohio on July 21, 2016.

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CLEVELAND, OH - JULY 21: Pastor Mark Burns, Co-Founder & CEO of The NOW Television Network, gestures as he delivers a speech on the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: Motivational Speaker Brock Mealer delivers a speech on the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: Ivanka Trump stands on stage along with her father, GOP candidate Donald Trump, prior to the start of the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: Mary Sue Rehrer wears a Donald Trump cape before the start of the final night at the Republican National Convention at the Quicken Loans Arena in Cleveland, Ohio on July 21, 2016.

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CLEVELAND, OH - JULY 21: Ivanka Trump waves to the crowd as she walks on stage to deliver a speech during the evening session on the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

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CLEVELAND, OH - JULY 21: Republican presidential candidate Donald Trump addresses the final night of the Republican National Convention at Quicken Loans Arena in Cleveland, Ohio, July 21, 2016.